Revolving Loan Program
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| Southwest Initiative Foundation provided loan funding to RD Machine, Inc. in Hutchinson, Minn. |
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Supports the development and growth of small
businesses throughout southwest Minnesota.
For-profit businesses operating within the 18-county SWIF
service area may be eligible for the Revolving Loan Program.
Eligible projects must create or retain jobs that provide a
livable wage with benefits, generate new wealth for the region
and diversify the economy of southwest Minnesota.
Applicants must have adequate collateral and cash flow to
service the debt, and complement SWIF’s loan with lending
from the private sector. The loan may be subordinate only to
the interest of the primary lender.
Loan funds may be used for machinery and equipment,
inventory, working capital and real estate.
The maximum loan amount is $200,000. Loan term is based
on the life of the assets.
Loan maturity will generally be five years but may have
extended amortizations if warranted by the financed assets.
Applicants should contact SWIF at 800-594-9480,
320-587-4848 or loans@swifoundation.org early in the
project development stage.
Applicants should complete a loan application.
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